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Ferrero Agrees to Acquire WK Kellogg in $3.1 Billion Deal

Ferrero is targeting breakfast markets by adding WK Kellogg’s iconic cereal brands to its confectionery portfolio ahead of a late-2025 completion.

ARCHIVO - Cajas de cereales Froot Loops de Kellogg's. (Foto AP/Gene J. Puskar, Archivo)
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Overview

  • Ferrero and WK Kellogg have signed a binding agreement to transfer the cereal business for $3.1 billion including debt at $23 per share.
  • The price reflects a 31% premium over WK Kellogg’s closing stock price and drove its shares up more than 50% in after-hours trading.
  • The deal encompasses manufacturing, marketing and distribution of WK Kellogg’s breakfast cereals across the US, Canada and the Caribbean.
  • Shareholder and regulatory reviews lie ahead, with the transaction expected to close in the second half of 2025.
  • The acquisition diversifies Ferrero’s lineup beyond chocolate by adding brands such as Froot Loops, Frosted Flakes, Rice Krispies and Corn Flakes.